- Kookaburra
- Posts : 36
Join date : 2023-08-05
Gold Spot Price ($/£)
Sun Sep 08, 2024 3:06 pm
A thread to discuss the current gold spot price and give strong opinions on future gold price based on feeling and hearsay (and sometimes technical analysis)
Recommended charts:
https://www.kitco.com/markets/kitco-gold-index
https://www.bullionbypost.co.uk/gold-price/
https://www.chards.co.uk/gold-price/gold-spot-price
https://www.wsj.com/market-data/quotes/fx/GBPUSD/advanced-chart
Recommended charts:
https://www.kitco.com/markets/kitco-gold-index
https://www.bullionbypost.co.uk/gold-price/
https://www.chards.co.uk/gold-price/gold-spot-price
https://www.wsj.com/market-data/quotes/fx/GBPUSD/advanced-chart
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- The Cat's MotherModerator
- Posts : 3610
Join date : 2021-05-19
Location : UK
Re: Gold Spot Price ($/£)
Sun Sep 08, 2024 3:16 pm
Thank you @Kookaburra . Nice avatar too!
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- Kookaburra
- Posts : 36
Join date : 2023-08-05
Re: Gold Spot Price ($/£)
Sun Sep 08, 2024 3:18 pm
Some technical resources (there are many alternatives):
https://www.marketscreener.com/quote/commodity/GOLD-4947/graphics/
https://www.barchart.com/forex/quotes/%5EXAUUSD/cheat-sheet
https://www.tradingview.com/symbols/XAUUSD/
https://www.investing.com/currencies/xau-usd
(if it asks you to disable your adblocker or whatever, just re-open in an incognito window if you can't be bothered)
You can plug these into a trading bot/AI and it will crunch the charts and numbers for you
https://www.marketscreener.com/quote/commodity/GOLD-4947/graphics/
https://www.barchart.com/forex/quotes/%5EXAUUSD/cheat-sheet
https://www.tradingview.com/symbols/XAUUSD/
https://www.investing.com/currencies/xau-usd
(if it asks you to disable your adblocker or whatever, just re-open in an incognito window if you can't be bothered)
You can plug these into a trading bot/AI and it will crunch the charts and numbers for you
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- Kookaburra
- Posts : 36
Join date : 2023-08-05
Re: Gold Spot Price ($/£)
Sun Sep 08, 2024 3:42 pm
Always amusing to see the predictions for gold price from major institutions and traders and how they evolve over time. Latest end of 2024 prediction from the World Gold Council:
https://www.kitco.com/news/article/2024-09-04/gold-between-2700-3000-world-gold-councils-joe-cavatoni-says-lot-market
A range of forecasts given in March 2024:
https://www.linkedin.com/pulse/gold-price-forecast-year-beyond-john-halloran-9znqc
Recent articles:
https://www.kitco.com/opinion/2024-09-06/gold-has-become-range-bound-after-breaking-above-2500
https://www.kitco.com/news/article/2024-09-06/wall-street-experts-turn-bearish-gold-main-street-investors-dont-stop
The major banks don't favour gold as it limits their ability to earn fees, they tend to underestimate and reduce hype. Meanwhile in Russia:
https://www.kitco.com/news/article/2024-09-06/russia-ramps-daily-gold-purchases-700-beginning-today
https://www.kitco.com/news/article/2024-09-04/gold-between-2700-3000-world-gold-councils-joe-cavatoni-says-lot-market
A range of forecasts given in March 2024:
https://www.linkedin.com/pulse/gold-price-forecast-year-beyond-john-halloran-9znqc
Recent articles:
https://www.kitco.com/opinion/2024-09-06/gold-has-become-range-bound-after-breaking-above-2500
https://www.kitco.com/news/article/2024-09-06/wall-street-experts-turn-bearish-gold-main-street-investors-dont-stop
The major banks don't favour gold as it limits their ability to earn fees, they tend to underestimate and reduce hype. Meanwhile in Russia:
https://www.kitco.com/news/article/2024-09-06/russia-ramps-daily-gold-purchases-700-beginning-today
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Re: Gold Spot Price ($/£)
Mon Sep 09, 2024 12:50 pm
Kookaburra wrote:Always amusing to see the predictions for gold price from major institutions and traders and how they evolve over time. Latest end of 2024 prediction from the World Gold Council:
https://www.kitco.com/news/article/2024-09-04/gold-between-2700-3000-world-gold-councils-joe-cavatoni-says-lot-market
A range of forecasts given in March 2024:
https://www.linkedin.com/pulse/gold-price-forecast-year-beyond-john-halloran-9znqc
Recent articles:
https://www.kitco.com/opinion/2024-09-06/gold-has-become-range-bound-after-breaking-above-2500
https://www.kitco.com/news/article/2024-09-06/wall-street-experts-turn-bearish-gold-main-street-investors-dont-stop
The major banks don't favour gold as it limits their ability to earn fees, they tend to underestimate and reduce hype. Meanwhile in Russia:
https://www.kitco.com/news/article/2024-09-06/russia-ramps-daily-gold-purchases-700-beginning-today
I am always laughing at experts or so called experts. I personally have my own views on gold / silver and platinum.
I never run out and tell anyone when to buy or not to buy.. but omg. I have been in this game long enough to know when TSHTF so to speak or is about to hit the fan!!!
I love watching videos saying that silver will be over 100 dollars or pounds per oz. Some of them are better than watching a comedian
And the time frame in which they claim it... like in months... I can go to videos of these people YEARS ago and show the same content they are still crying out about.
And as far as gold silver and platinum is concerned... the only advice I say to people is this.
Buy fractional gold when you can 1/10th minimum 1/4 suggested.
Silver ... buy regularly and cheap.. only buy premium stuff once your base is established Do NOT buy into poured silver... I know I am going against myself.. As I am AceBullion ... Poured silver is a art... not a investment!
Platinum buy 1/10th rounds... you will love me later. I swear.
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- Kookaburra
- Posts : 36
Join date : 2023-08-05
Re: Gold Spot Price ($/£)
Sat Sep 14, 2024 2:29 pm
New ATH weekly close in both USD ($2579.29) and GBP (£1966.13)
GBP is as strong as its been vs USD since early 2022
If £1=$1.27 the gold price would be above £2000/oz!
FX is harder to predict than gold price in USD. Most solid analysts were expecting September and/or October to be a good month for gold and for gold to finish the year closer to $3000 than $2500. It's a little unnerving to spend large sums on gold when it's at the ATH but we may not have a choice. I'd rather hold gold than fiat, that's for sure
It was a boom for everything over the last few days - stocks, crypto, silver, gold - based largely on the DXY (USD strength) being at its lowest since early 2022. I've heard several respected commentators predict DXY to plummet below 100 (current level 101.15) towards pre-plandemic levels in the 80s and even 70s. That means gold (and stocks, crypto) could see a 20% boost from USD weakness
As always though gold doesn't make you rich, rather it stops you getting poor. If the value of USD, GBP, Euro, plummets, the cost of everything in the shops will go up along with oil, energy, machines, digital devices
Very interesting times ahead with Starmer in the UK, the political change in the EU, the US election, geopolitical uncertainty, BRICS currency (October) AND the backdrop of Fed, BoE and ECB easing cycles. It looks set up for serious problems for western populations and high volatility in markets, crypto and metals
GBP is as strong as its been vs USD since early 2022
If £1=$1.27 the gold price would be above £2000/oz!
FX is harder to predict than gold price in USD. Most solid analysts were expecting September and/or October to be a good month for gold and for gold to finish the year closer to $3000 than $2500. It's a little unnerving to spend large sums on gold when it's at the ATH but we may not have a choice. I'd rather hold gold than fiat, that's for sure
It was a boom for everything over the last few days - stocks, crypto, silver, gold - based largely on the DXY (USD strength) being at its lowest since early 2022. I've heard several respected commentators predict DXY to plummet below 100 (current level 101.15) towards pre-plandemic levels in the 80s and even 70s. That means gold (and stocks, crypto) could see a 20% boost from USD weakness
As always though gold doesn't make you rich, rather it stops you getting poor. If the value of USD, GBP, Euro, plummets, the cost of everything in the shops will go up along with oil, energy, machines, digital devices
Very interesting times ahead with Starmer in the UK, the political change in the EU, the US election, geopolitical uncertainty, BRICS currency (October) AND the backdrop of Fed, BoE and ECB easing cycles. It looks set up for serious problems for western populations and high volatility in markets, crypto and metals
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- Kookaburra
- Posts : 36
Join date : 2023-08-05
Re: Gold Spot Price ($/£)
Sun Sep 22, 2024 8:51 pm
Another record weekly close for gold in both USD and GBP!
Where is the gold price going next week?
Where is the gold price going next week?
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Re: Gold Spot Price ($/£)
Mon Sep 23, 2024 9:47 am
Here are my 2 cents worth of advice.
20 years ago just about I started collecting Gold and Silver Bullion.
Gold was priced PER OZ at around £220 / £300 per ounce.
Silver was priced PER OZ £3 / £4 per ounce.
Both in MY stacking and collecting time have gone up and in 2011 reached what I thought was a big peak.... it then dropped. But as I paid a lot less for the bullion at the time I didn't care.
Both have gone up steadily since in proportion ( to a degree ) to one another. The Gold to silver Ratio was widened a bit but gold and silver are still performing great.
I have been lucky that when I had my car accident I put a huge amount of money in precious metals. So protecting my children and wife if the worse happens. Now that amount has grown to 100% PLUS and I am thrilled.
The Gold and Silver i buy now is for fun and to keep up the habit. BUT anyone who is starting off can or should be buying silver as close to spot as possible. You wont loose, unless something majority happens but in time it will go back up.
Gold I still strongly suggest buying at least 1/10th coins 9999 if possible...
Silver BU coins mostly do not hold any premiums down the road.... They only hold more than the spot value if it is limited or of a significant importance.
Proof coins are a hit or miss when it comes to increasing in price or not. Generally speaking they hold more than just spot price. BUT if not stored properly or even a blemish that price can go down to spot.
Graded coins again both gold and silver. in my opinion are not worth it. Unless they are proof and then your more likely to get a higher premium down the line.
Now all this is if your " flipping " ie selling within a few months or so. But later down the line ie 2-5 years. the price you pay for some BU and others as mentioned will most likely have gone up as Spot price has gone up. And in some cases signifyingly.
When coins first come out there is a rush to get them especially if they are limited. This is in my opinion the best time and best chance to get it for less. But its a risk. The coin might not be as popular as you expect. But don't despair. Spot will increase. Especially if it is gold or proof or limited. Take my carded 1oz gold Simpson coin. I took it down off my website because of Spot!!! I paid a good premium at the time but now even if I sold it for what I paid... Spot is higher!!!! So I could sell it for SPOT and win. But I will hold back a bit and only sell it for a premium as there are only 100 of these I think. I might even get it graded... but then again it would ruin the carded original unopened value. .
So if your new or starting off.... Buy what you can afford. Add gold in what ever amount you can.. but no less than a 1/10th oz. Silver only 1oz or more.
Platinum 1/10th should be your smallest amount... and Grab Platinum before it is too late. But that is MY view and I am not telling you to... that last bit was more a reminder to me to buy more Platinum.
20 years ago just about I started collecting Gold and Silver Bullion.
Gold was priced PER OZ at around £220 / £300 per ounce.
Silver was priced PER OZ £3 / £4 per ounce.
Both in MY stacking and collecting time have gone up and in 2011 reached what I thought was a big peak.... it then dropped. But as I paid a lot less for the bullion at the time I didn't care.
Both have gone up steadily since in proportion ( to a degree ) to one another. The Gold to silver Ratio was widened a bit but gold and silver are still performing great.
I have been lucky that when I had my car accident I put a huge amount of money in precious metals. So protecting my children and wife if the worse happens. Now that amount has grown to 100% PLUS and I am thrilled.
The Gold and Silver i buy now is for fun and to keep up the habit. BUT anyone who is starting off can or should be buying silver as close to spot as possible. You wont loose, unless something majority happens but in time it will go back up.
Gold I still strongly suggest buying at least 1/10th coins 9999 if possible...
Silver BU coins mostly do not hold any premiums down the road.... They only hold more than the spot value if it is limited or of a significant importance.
Proof coins are a hit or miss when it comes to increasing in price or not. Generally speaking they hold more than just spot price. BUT if not stored properly or even a blemish that price can go down to spot.
Graded coins again both gold and silver. in my opinion are not worth it. Unless they are proof and then your more likely to get a higher premium down the line.
Now all this is if your " flipping " ie selling within a few months or so. But later down the line ie 2-5 years. the price you pay for some BU and others as mentioned will most likely have gone up as Spot price has gone up. And in some cases signifyingly.
When coins first come out there is a rush to get them especially if they are limited. This is in my opinion the best time and best chance to get it for less. But its a risk. The coin might not be as popular as you expect. But don't despair. Spot will increase. Especially if it is gold or proof or limited. Take my carded 1oz gold Simpson coin. I took it down off my website because of Spot!!! I paid a good premium at the time but now even if I sold it for what I paid... Spot is higher!!!! So I could sell it for SPOT and win. But I will hold back a bit and only sell it for a premium as there are only 100 of these I think. I might even get it graded... but then again it would ruin the carded original unopened value. .
So if your new or starting off.... Buy what you can afford. Add gold in what ever amount you can.. but no less than a 1/10th oz. Silver only 1oz or more.
Platinum 1/10th should be your smallest amount... and Grab Platinum before it is too late. But that is MY view and I am not telling you to... that last bit was more a reminder to me to buy more Platinum.
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- Kookaburra
- Posts : 36
Join date : 2023-08-05
Re: Gold Spot Price ($/£)
Tue Sep 24, 2024 12:44 pm
Admin wrote:Here are my 2 cents worth of advice.
20 years ago just about I started collecting Gold and Silver Bullion.
Gold was priced PER OZ at around £220 / £300 per ounce.
Silver was priced PER OZ £3 / £4 per ounce.
Both in MY stacking and collecting time have gone up and in 2011 reached what I thought was a big peak.... it then dropped. But as I paid a lot less for the bullion at the time I didn't care.
Both have gone up steadily since in proportion ( to a degree ) to one another. The Gold to silver Ratio was widened a bit but gold and silver are still performing great.
I have been lucky that when I had my car accident I put a huge amount of money in precious metals. So protecting my children and wife if the worse happens. Now that amount has grown to 100% PLUS and I am thrilled.
The Gold and Silver i buy now is for fun and to keep up the habit. BUT anyone who is starting off can or should be buying silver as close to spot as possible. You wont loose, unless something majority happens but in time it will go back up.
Gold I still strongly suggest buying at least 1/10th coins 9999 if possible...
Silver BU coins mostly do not hold any premiums down the road.... They only hold more than the spot value if it is limited or of a significant importance.
Proof coins are a hit or miss when it comes to increasing in price or not. Generally speaking they hold more than just spot price. BUT if not stored properly or even a blemish that price can go down to spot.
Graded coins again both gold and silver. in my opinion are not worth it. Unless they are proof and then your more likely to get a higher premium down the line.
Now all this is if your " flipping " ie selling within a few months or so. But later down the line ie 2-5 years. the price you pay for some BU and others as mentioned will most likely have gone up as Spot price has gone up. And in some cases signifyingly.
When coins first come out there is a rush to get them especially if they are limited. This is in my opinion the best time and best chance to get it for less. But its a risk. The coin might not be as popular as you expect. But don't despair. Spot will increase. Especially if it is gold or proof or limited. Take my carded 1oz gold Simpson coin. I took it down off my website because of Spot!!! I paid a good premium at the time but now even if I sold it for what I paid... Spot is higher!!!! So I could sell it for SPOT and win. But I will hold back a bit and only sell it for a premium as there are only 100 of these I think. I might even get it graded... but then again it would ruin the carded original unopened value. .
So if your new or starting off.... Buy what you can afford. Add gold in what ever amount you can.. but no less than a 1/10th oz. Silver only 1oz or more.
Platinum 1/10th should be your smallest amount... and Grab Platinum before it is too late. But that is MY view and I am not telling you to... that last bit was more a reminder to me to buy more Platinum.
All solid advice there, thank you for sharing. I have similar views
I might be newish to buying metals P2P but I've been buying for a while. Instead of taking out another private pension (inflation protected only up to 5%), going for a BTL (buy-to-lets are being regulated out of business in the UK), or dumping cash in stocks (Dotcom2.0 with the Magnificent 7) and crypto (CGT, AML, KYC, custody nightmare), I decided to buy precious metals as a long-term pension.
I've got plenty of earning years ahead of me (hopefully) and I've made a decent start on my stack. In terms of value at spot I have roughly 80/20 in gold/silver. I keep trying to boost the silver side but I end up buying gold and that wrecks it with an ounce of Au being 80+ ounces of Ag. It's harder to find desirable silver at close to spot in the UK whereas you can buy unlimited amounts of semi-numismatic gold within 5% premium of spot anytime you want. So I've got a bunch of sovs, fractional Brits, 1oz brits, QBs, Royal Arms, all CGT-exempt. In the UK it's all about tax efficiency. If you earn from physical gold spot you keep 100% (currently) but with stocks or crypto you might get much higher returns then get stung by taxes. Same story with silver. I only buy silver pieces I actually want to keep like KOMSCO and keep the majority in CGT-exempt coins
Platinum, Palladium and the others I have neglected, other than the 1/2oz I've got stored in the catalytic convertors
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- Kookaburra
- Posts : 36
Join date : 2023-08-05
Re: Gold Spot Price ($/£)
Tue Sep 24, 2024 12:46 pm
I've also got a kookaburra collection in gold and silver that I somehow forgot about despite it being my avatar
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Re: Gold Spot Price ($/£)
Tue Sep 24, 2024 3:56 pm
Kookaburra wrote:I've also got a kookaburra collection in gold and silver that I somehow forgot about despite it being my avatar
LOL
My Gold to Silver Value is about 90-10 Gold to Silver.
ounces of each... well I have far more ounces of silver... but its almost a 100oz silver bar to every 1oz gold.
That said as my above post.. I now just buy and collect what I like. That initial investment was the best thing I have done. gold and silver were extremely low...... per ounce and I had rather a lot of money.... enough to buy a house outright... that I was able to invest.
Now I just have fun. LOL
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- USP
- Posts : 17
Join date : 2024-09-23
Re: Gold Spot Price ($/£)
Wed Sep 25, 2024 4:59 am
Having fun is what it’s all about. I used to collect for weight, buying as many ounces as I could afford. Now I’m a bit more choosey and buy coins that are fun to look at! You can only have so many maples, they’re all the same..
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Re: Gold Spot Price ($/£)
Wed Sep 25, 2024 9:26 am
USP wrote:Having fun is what it’s all about. I used to collect for weight, buying as many ounces as I could afford. Now I’m a bit more choosey and buy coins that are fun to look at! You can only have so many maples, they’re all the same..
Exactly !!! everyone will know their own personal budget. How much is in your bank and what if you need a new boiler, car, etc.
Heck I recently went through 3 cars! yes 3 cars..... before we found the right one... But that money was available and money to spare.
I try to always keep myself in a situation that I never have to sell anything. There are things I might want to sell, and god knows the amount of times I have said I will list things... but then only list a few or nothing at all.
I know we need to have fun but also this can help a lot of people I know personally get out of debt etc. Little story, I had a friend who kept going out to eat 3-4 times a week. Then to the pub every Friday night. He has a wife and a house and was just scraping by. His wife is a good cook as is he. I suggested Silver to him about 5-6 years ago... instead of going out as much... Now note that 2 meals out is not cheap!!! and I wouldnt want to take that away... but we had a good friend to friend chat... He started by cutting things by half... and putting the extra money in silver ....... then in gold and silver after once a month treat. Now he addicted and loves his precious metals.
I shown my boys with cash what it is like to have money sitting in their safes..... and what it would look like in if it was 10 years ago... then I shown them what silver would look like .... guess that made a change. They buy more and more off the bank / dealer of dad who has a horrible practice of selling them silver a 50% below spot.
But they love it and have a dang good base now... and have been buying collectables off me at Spot.... got to show them gradually that things increase.
overall have fun stay in budget and enjoy.. it is only a win win situation.. Ok for legal reasons I must say the risk is VERY low... but most of us know that.
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- USP
- Posts : 17
Join date : 2024-09-23
Re: Gold Spot Price ($/£)
Wed Sep 25, 2024 3:19 pm
I bet your friend was blown away by how much of his money he was eating/drinking… that adds up so quickly! Especially at today’s prices. He’s lucky to have you as a friend. Sounds like you’re setting your kids up for success as well!
It does get addicting, in a positive way. I used to spend too much money on guns/hunting equipment as that’s my main hobby… until I started buying gold. Now, I spend almost nothing and even started fasting one day per week to cut down on groceries. Well, the last part is partially for health reasons, too. now I’m saving about 90% of my income.
Now I’m on track to buy a couple of coins per month, but also started re-evaluating what I have and whether I should learn to be happy having less “stuff”. So I’ve been purging a bit, selling off possessions I don’t need and trying to live simpler.
It does get addicting, in a positive way. I used to spend too much money on guns/hunting equipment as that’s my main hobby… until I started buying gold. Now, I spend almost nothing and even started fasting one day per week to cut down on groceries. Well, the last part is partially for health reasons, too. now I’m saving about 90% of my income.
Now I’m on track to buy a couple of coins per month, but also started re-evaluating what I have and whether I should learn to be happy having less “stuff”. So I’ve been purging a bit, selling off possessions I don’t need and trying to live simpler.
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Re: Gold Spot Price ($/£)
Fri Sep 27, 2024 10:50 am
USP wrote:I bet your friend was blown away by how much of his money he was eating/drinking… that adds up so quickly! Especially at today’s prices. He’s lucky to have you as a friend. Sounds like you’re setting your kids up for success as well!
It does get addicting, in a positive way. I used to spend too much money on guns/hunting equipment as that’s my main hobby… until I started buying gold. Now, I spend almost nothing and even started fasting one day per week to cut down on groceries. Well, the last part is partially for health reasons, too. now I’m saving about 90% of my income.
Now I’m on track to buy a couple of coins per month, but also started re-evaluating what I have and whether I should learn to be happy having less “stuff”. So I’ve been purging a bit, selling off possessions I don’t need and trying to live simpler.
Awesome bud.
Gold has dropped again to under the 2K mark... £1985 atm. but will see.
And I hope I am doing that for them....
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